EUR/USD:
Date: 7 November, 2016
D1 Graph: Medium term short
Price climbed to levels of horizontal and diagonal resistance and at that same level there is a Fibo level of 61,8% at 1.1140/1.1150. After that price opened with gap down.
Price Action - Gap down by the trend, at a level of strong horizontal and diagonal resistance - Possible signal for short
Alternative scenario: If the price moves up above the previous high and above the diagonal resistance above 1.11450 will cancel the bearish view.
Technical Indicator:
DEM (14) - In the overbought zone and turned down for short
Price for Entry short around:1.10850
SL: 1.11700
Jr. Trader - S. Fuchedzhiev
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